Advertisements THE lift to Vietnam’s economy from the US-China trade war may ease in 2020, economists have cautioned, although cushions to a growth slowdown are still in play. The businesstimes reports. The manufacturing boost from supply-chain shifts into Vietnam could yet narrow on capacity limits, as well as concern over possible backlash from the UnitedContinue reading “Economy lift to Vietnam from the US-China trade war may ease in 2020”
Category Archives: Finance
Grab partnered with Singtel for Singapore digital bank licences
Advertisements Grab Holdings Inc. is partnering with Singapore Telecommunications Ltd. to apply for a full digital banking license, jumping aboard a Singapore government initiative to attract technology firms into its financial sector. Bloomberg reports. A Grab entity will own a 60% stake in the consortium that will apply for the bank license in Singapore, whileContinue reading “Grab partnered with Singtel for Singapore digital bank licences”
Gold prices grow strongest in three months
Advertisements The domestic gold price saw its strongest growth in three months last week after beating the milestone of VNĐ42 million (US$1,817.40) per tael. Gold prices posted by trading firms in the week of December 23-29 gained VNĐ700,000-800,000 per tael, equal to VNĐ0.93-VNĐ1.06 million for an ounce. Buying and selling prices at Saigon Jewellery CompanyContinue reading “Gold prices grow strongest in three months”
2019 GDP growth at 7.02%
Advertisements GSO releases official economic figures on December 27. Vietnam posted GDP growth of 7.02 per cent in 2019 thanks to the robust expansion of the processing and manufacturing and service sectors, General Statistics Office (GSO) Director General Nguyen Bich Lam announced at a press conference in Hanoi on December 27. This is the secondContinue reading “2019 GDP growth at 7.02%”
Vietnam surges to the front of Southeast Asia’s fintech race
Advertisements As Vietnam shifts its focus from low-tech manufacturing to a service-oriented economy, more efforts are going into building its information technology (IT) industry. Vietnam continues to grow as a regional market for both domestic and global technology companies. One of the sectors within the tech industry showing great promise for growth is Vietnam’s fintechContinue reading “Vietnam surges to the front of Southeast Asia’s fintech race”
Foreign reserves of Vietnam surged 2.5 times against 2015
Advertisements Vietnam’s foreign reserves surge 2.5 times over 2015, Governor of the central bank Le Minh Hung said. Governor did not mention the exact figure, but Vietnamese media quoted a close source saying SBV has bought US$16 billion so far this year, which has helped raise the national foreign reserves to $75 billion. Earlier, State BankContinue reading “Foreign reserves of Vietnam surged 2.5 times against 2015”
Vietnam’s Fast Capital Solution arranged the acquisition of Song Giang hydropower project
Advertisements Nexif Energy just announced the successful closing of a share purchase transaction with shareholders of Song Giang Hydro Power Joint Stock Company where Nexif Energy has acquired 94% of the equity of the Song Giang Hydropower JSC, a company that owns two run-of-river hydropower projects in cascade on the same river totaling 49MW inContinue reading “Vietnam’s Fast Capital Solution arranged the acquisition of Song Giang hydropower project”
Grab confirms application for banking license in Singapore
Advertisements Super app plans to become ‘largest fin-tech ecosystem in Southeast Asia’ SoftBank Group-backed unicorn Grab will submit an application for a digital banking license in Singapore, the company has confirmed, as it sees the financial businesses as a driver for future growth. KENTARO IWAMOTO reports on Nikkei. If Grab successfully obtains the license, consumersContinue reading “Grab confirms application for banking license in Singapore”
Vietnam’s real estate market may suffer decline in 2020
Advertisements 2019 was a tough year for the real estate market when many projects remained stagnant. However, the situation may be even more serious in 2020. The overlapping and contradictory legal documents, complicated licensing procedures, unsuitable policies for social housing development, unclear legal framework for condotels and the decreased confidence of investors all have createdContinue reading “Vietnam’s real estate market may suffer decline in 2020”
Stock market ends three-session gaining streak
Advertisements The VN-Index slipped 0.55 points, or 0.06 percent, to 958.88 points Tuesday, ending three consecutive sessions on a positive. 177 stocks gained and 142 lost on Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based. Liquidity of order-matched transactions plunged to VND2.78 trillion ($120 million), one of the quietest trading sessionsContinue reading “Stock market ends three-session gaining streak”
Why Moody’s changed the outlooks for ratings of Vietnamese banks to negative?
Advertisements For 10 of the 18 Vietnamese banks, Moody’s has confirmed the banks’ long-term local and foreign currency deposit and issuer ratings, and changed the outlooks for these ratings to negative from ratings under review for downgrade. Of the 10, Moody’s has confirmed the Baseline Credit Assessments (BCAs) and Adjusted BCAs of four banks, asContinue reading “Why Moody’s changed the outlooks for ratings of Vietnamese banks to negative?”
Tax collected from imported cars increases by nearly VND20 trillion
Advertisements According to Mr. Luu Manh Tuong, head of the Import-Export Duty Department under the General Customs Office of Vietnam, in the first 11 months of this year, tax collected from imported completely-built-unit (CBU) cars reached more than VND38.2 trillion, an increase of VND19.32 trillion, or 102.4 percent over the same period last year. Particularly,Continue reading “Tax collected from imported cars increases by nearly VND20 trillion”
As an expat in Vietnam, why you shouldn’t risk your funds in a term deposit?
Advertisements “Are you risking your funds in a Vietnam term deposit? You shouldn’t!” That’s what Lawrence Young from Holborn Assets Ltd (Vietnam) – a leading global financial services company – wrote about investing in Vietnam as an expat. According to Lawrence, term deposit in Vietnam are extremely high risk as the Deposit Insurance Scheme here inContinue reading “As an expat in Vietnam, why you shouldn’t risk your funds in a term deposit?”
Vietnam objects to Moody’s changing Vietnam rating outlook to negative
Advertisements The finance ministry reiterated that the government is always serious about meeting commitments to timely debt payments with development partners and international financial institutions. The Vietnamese Ministry of Finance (MoF) has voiced its objection after Moody’s Investors Service changed the country’s rating outlook to negative although the Vietnamese government has made great efforts toContinue reading “Vietnam objects to Moody’s changing Vietnam rating outlook to negative”
Half of fintech financing tools users in Vietnam are married and have kids
Advertisements Married people with one or two kids comprise the highest share of customers of services providing fintech financing in Asia. These are the findings of the holding Robocash Group based on a client survey in the Philippines, Vietnam, Indonesia and India. In Vietnam, 54% of customers are married, and 40% have 1-2 kids underContinue reading “Half of fintech financing tools users in Vietnam are married and have kids”